Air Vistara’s long-term development strategies would not be swayed by short-term progress, Bhaskar Bhat, Vistara’s Chairman, stated while refusing to comment on the Tata Group’s formal stand on Jet Airways, which is there for sale. Tata Group did not participate in the latest expression of interest summoned for Jet Airways by its lenders, which plotted industry watchers since the group was anticipated to the proposal given that the airline needs to develop its network and get extra landing slots to have a regional reach and be viable.
Bhat said to Economic Times, “Tata SIA (which conducts Vistara) while taking into consideration the situation would stay on the path of developing its network in India and overseas. Vistara persists to function with airport managers and the Department of Civil Aviation to get more slots, especially in challenging locations such as Mumbai and Delhi, even as it progressively acquires aircraft to enlarge network.” Lenders to Jet—managed by SBI (State Bank of India)—had invited expression of interest from possible buyers in a proposal to mobilize an estimated Rs 8,500 Crore for the airline’s renewal at the earliest. In the past week, Singapore Airlines Ltd. and Tata Sons perfuse a combined Rs 900 Crore in their corporation to improve the airline’s financial condition and get delivery of new planes from Airbus and Boeing.
Recently, Vistara was in news for getting permission to fly on international routes. Pradeep Singh Kharola—Civil Aviation Secretary—said the administration has granted permission to Vistara to fly internationally. The airline got permission from the aviation ministry before the election dates were declared, a source familiar with the incident reported to CNBCTV18.com. Vistara Spokesperson said, “We are closely functioning with the ministry of civil aviation. Precise details would be shared at the right time.”